Master plan for socio- economic development in vinh phuc province to 2020 and vision to 2030 Vinh Phuc, March, 2011
PART 1 THE STATUS OF SOCIO ECONOMIC DEVELOPMENT IN VINH PHUC PROVINCE PERIOD OF 2001-2010
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- Điều hướng trang này:
- Economic structuring transition
- Table 9 Economic structuring transition period of 2001-2010
- Receipt and expense budgets
- The State budget expenditures
- Investment of development
- Import - export
PART 1THE STATUS OF SOCIO ECONOMIC DEVELOPMENT IN VINH PHUC PROVINCE PERIOD OF 2001-2010
Since 1997 (re-establisment of Vinh Phuc province), The whole province GDP is growthing rapidlly, The average GDP growth rate in period of 1998-2000 high reached 18,12%, despite the impact of the regional finance in 1997. After the impact of the regional financial crisis in 1997, the provincial economy bounced back in the early 2000s and rose to a high rate before the impact of the global financial crisis in recent years. Table 7 some targets of economic growth period of 2001-2010
Source: Staristic bookyear; Department of planning and investment of Vinh Phuc 2010 In 2009, the world financial crisis strongly affected to economic growth of the whole country, including Vinh Phuc province. Economic growth speed fell to about 8,3%, and then rebounded with the growth of 21.7% in 2010. For the whole period 2001-2010, Vinh Phuc GDP average growth of 16.5% / year, of which: agriculture, forestry, fishery by 6.0% / year, the industry and construction increased by 20.7 % / year; services increased by 17.1% / year. Overall, growth rates consistently high in the Red River Delta provinces and Northern key economic zone, two-fold increase compared with the average rate of the country. The process of economic growth in recent years of Vinh Phuc associated with strong growth of the industrial sector in particular areas of foreign investment. At the same time, it has a mutation in a number of years due to a number of industrial projects are large-scale in operation. This is the time when the industrial projects of foreign investment and industrial parks in operation increased industrial output. This can be seen in chart 1. Chart 1. Economic growth of Vinh Phuc province period of 2001-2010 unit: % 
Source: Staristic bookyear; Department of Planning and Investment of Vinh Phuc 2010 Along with the rapid growth of the economy, GDP per capita in the province also increased rapidly. 2000 GDP / capita of the province (prices) only reached 3.83 million, equal to 78.2% of GDP the Red River Delta region compared with 67.2% nationwide. But by 2007, GDP / capita of the province reached 15.74 million, higher than average level of the Red River Delta (14.5 million) and much higher than the national average (13,421 million). 2008 per capita GDP (at current prices) was 22.2 million (approximately $ 1,300), 1.29 times higher than the national average (17.2 million). In 2010, this indicator reached 33.6 million, higher than the projected national average of 22.5 million and an average of 25.5 million Red River Delta (chart 2). Chart 2. GDP per capita of Vinh Phuc province compared to the whole country and Red River Delta region Unit: Million, Current price 
Source: Local and terriory economic – Ministry of Planning and Investment, 2009 Therefore, GDP per capita of Vinh Phuc has more favorable starting point than others provinces, GDP per capita of province in 2007 arranged 11th and 2008 was 6th among 63 provinces,cities of the whole country (only lower than the provinces and cities: HCM, Ha noi, Binh Duong, Ba Ria – Vung Tau, Can Tho). Chart 8 some targers compared to Vinh Phuc province with others targets of Northern key economiec zones in 2008
Source: Total of amount from Institude of Stratery and development
In the 2001-2005 periods, the economic structure of Vinh Phuc province shifted pretty quickly: the proportion of industry and construction in GDP rose 12.01 points (%) from 40.68% in 2000 to 52.69% in in 2005. This ratio continues to increase and reached the highest 59.93% in 2007 (an increase of 7.24 points (%) compared to 2005) and in 2008 decreased slightly to 57.50% and continued to fall to around 56.2% in 2010, the service sector tends to reduce the proportion of GDP from 27.86% in 2005 to 24.48% in 2008 and then increased to 28.9% in 2010, while the proportion of agro-forestry-fishery rapidly continuously decreased from 28.94% in 2000 down 19.45% in 2005 and 14.9% in 2010. As it can be seen Vinh Phuc economic structure shifted strongly towards reducing proportion of agriculture, however, the proportion of service sector rose slowly.
Source: Staristic yearbook of Vinh Phuc province in 2000; Department of Planning and Investment, 2010 Chart 3. Economic structure in Vinh Phuc province periof of 2000-2010 (%) 
Source: Staristic yearbook of Vinh Phuc province in 200; Department of Planning and Investment, 2010 We can say that, economic structure of Vinh Phuc province was relatively special things compared to others provinces of the whole countries, since re-establishment of the province, industry and construction has low proportion but aftering more than 10 year of development, industry account for high proportion in structure of Gross Domestic Product, nearly 60%. Chart 4. Economic structure of Vinh Phuc compared to others provinces in 2008 (%) 
Source: Local and territory economic, Ministry of Planning and Investment, 2009 The service sector has potential but low proportion, that should have faster growth, stronger facilitate formation of an economic structure more reasonable, in conditions of industry and construction continue to increase rapidly in the coming prospects. Vinh Phuc economic structure is also characterized by areas of foreign investment which has been rapidly increasing proportion. Contribution of regional foreign investment in provincial GDP has increased significantly from 8.6% in 1997 to 39.9% in 2009 and continues to play an important contribution in the economic growth. This proves the success of Vinh Phuc in the preparation of the favorable conditions of infrastructure, the business environment in general, and it is also successful in mobilizing the promotion of foreign investment.
Since the re-establishment, along with the strong growth of the economy, state budget revenues in the province also continued to increase, especially in the last 3 years. 2001-2010 period revenues grew at a high level, reaching 3182.9 billion in 2005 (of which, domestic revenue was 2294.5 billion) and 14 505 billion in 2010 (in which domestic revenues were about 10,300 billion, accounting for a large proportion of the revenues structure; collection of VAT on imports and export reached 4,004 billion). Mobilization rate of the budget compared to GDP increased from 5.75% in 1997 to 35.9%% in 2005 and 40.9%% in 2008, then increased to 42.8% in 2010. Table 10 Provincial budget revenue period of 2001- 2010
Resource: Statistical yearbook 2008 of Vinh Phuc province in 2008 and data provided by the Department of Planning and Investment The structure of budget revenue in the province has several features; Import - export collection tax from 2006 tended to decrease, this matter is suitable with the rule of the increase of industrial production, import goods sources is mainly inputs for industrial production, it will be exempted as a result of the implementation of international commitments on tariff reductions. export - import collect tax in 1998 at the beginning of the new import-export tax is collected only 170 billion, in 2002 its had reached 1.220 billion, but by 2006 revenues from import-export tax and VAT only 957.8 billion, the average annual decrease in this period was (-) 4.9%. However, since 2007, import-export tax revenues tend to increase again in 2007, reaching 1.123 billion, up 17.3% compared to 2006 and in 2008 was 1.700 billion, an increase of 51.3% over 2007 , 2010 reached 4,005, an increase of 26% compared to 2009. Revenues from the sectors of foreign investment continue to rise rapidly. 1997 the revenue from this sector reached only 24.3 billion, equal to 22% of total revenues, in 2000 reached 163.3 billion, equal to 24% of total revenues. By 2010, revenues from foreign investment capital is 8,980 billion, with 61.9% of total revenues in the province, average annual growth rate in the period 2001-2010 is 49% / year. Including both import and export taxes and VAT on imported goods, the income area of the region occupied 85.7% of the total local budget. Another noteworthy point is the ratio revenue from land use also increasing rapid from 4.6 billion in 1997 increased to 165 billion in 2005 (accounting for 12% of total revenue in the area) and 895 billion 2008, the average growth over the period 1997-2008 to 61.5% / year. This proves the process of urbanization and industrialization in the area associated with the conversion of land use for non-agricultural land use is increasing rapidly.
Because of budget revenues in the province to speed up budget should be increased and layout more reasonable. The total state budget for 2006-2010 was 29. 046 billion, 4.7 times higher than the 2001-2005 periods is 6,118 billion. For the whole period 2001-2010, total state budget reached 35 164 billion. 2010 budget reached 10353.7 billion, 17.5 times compared with 590.3 billion in 2000, the average growth rate in 2001-2010 was 33.2% / year. Expenditure for development investment period 2006-2010 was 11,679 billion, 4.63 times in comparison with the period 2001-2005.Expenditure for developing investment accounted for 40.2% of the total expenditure of the local budget for 2001-2010. Regulary expenditure in period of 2006-2010 was 9071 billion, equal to 2.87 times in comparison with the 2001-2005 periods, accounting for 33.8% of the total budget of the local of the whole stage. Revenue expenditure increased rapidly, especially in the capital expenditure and development expenditure for education, training ... create motivation rapid development of infrastructure systems as well as human resources development to meet the growing demand in the future.
Because of favorable condition for socio economic development, as well as significant state budgets. Total of investment in the society the last 10 years from 2001 to 2010 (as the annual current price) reached 58.342 billion, an average increase of 30,2% per year, in which:
- Export Total exports turnover of Vinh Phuc period 2001 - 2010 was over $ 2 billion, including the period from 2006 to 2010 was 1,790 million. The export value per capita has risen nearly 21.6 times from 22.9 USD per capita in 2000 up to about 539 USD per capita in 2010, but still lower than the national average level (export / the national average level in 2009 was $ 1,028 per capita, in the chart 5). Chart 5. Export per capita: Vinh Phuc province compared with others provinces. 
Source: Staristic yearbook in 2009, Staristic Department The main contribution for provincial export in this time was foreign investment business. Period 2006 – 2010 export of foreign investment capital areas accounting for over 87,4 % of total export turnover of the province. Regional export turnover with the foreign investment capital increasing rapidly lead to proportion contributed by the domestic sector tends to decrease, in 2002 the proportion of the domestic economy with 22 % of total exports turnover, but in 2014 was only 14.1 %. The main exports are textiles, motorcycles, footwear, wood products, tea ... which products export value increased rapidly and account for a large proportion in 2010: USD 218.7 million of textile (accounting for 40.2%), motorcycles and components USD 187.7 million (accounting for 34.5%). The main export markets are China, Taiwan, Japan, Korea, Eastern Europe, and EU...
The total value of imports in the area in 2010 was 1,609 million, an average increase of 22.7% / year in the 2001-2010 periods when the demand for imported components and raw materials for production of the FDI increase. The province’s import in the recent years maily serves for the operations of the enterprises with foreign direct investement.The import commodities which serve for domestic production negligible proportion. The import of the dosmetic enterprises made up 8-10% of the total export revenue. The major province's imports of equipment and materials for production, such as automotive parts, motorcycles, apparel fabrics, footwear materials / machinery, cattle feed ... In which, sales of automotive components, motorcycle of FDI enterprises accounted for 75-80% of total imports; Overall, export results in the area were carried out in accordance with the direction of the projection, and more over. However, the difference between the current export and import is very large, requiring provinces to take measures to increase exports. Currently, except for exports of FDI enterprises, in the province of Vinh Phuc have no exports with highly competitive, characterized province. The export value of the current modest incommensurate with the scale of the economy and the potential of the province.
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